High Rent Vacancy: Not Actually Automatic Deregulation.
Throughout the residential housing industry, there is dangerous ignorance of the amendments promulgated this year, amending the Rent Stabilization Code. All owners should be reading as much as possible about these amendments. Business is simply not the same as it was.
One of the massive changes is in the notice that an owner must give to a new tenant immediately after deregulating the premises for rent that has gone above the $2,500 threshold. Prior to 2014, it was enough for the landlord to furnish the new tenant with a copy of the annual rent registration immediately following the deregulation. Under the old rules, the owner delivered it to the new tenant the later of 30 days after the registration or 30 days after signing a lease with the new tenant. That requirement is preserved.
2016 Year in Review: Recent Midwest Legal Decisions Impacting Real Estate and...Quarles & Brady
In 2016, the Midwest (which we will define as Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio, and Wisconsin) saw a number of statutory changes and court decisions that reshaped and framed a number of key issues every developer, design professional, owner, lender, contractor, and real estate and construction lawyer must know.
My recent presentation on the Construction Lien Law and Prompt Payment Act, two of the most effective tools for addressing payment issues on construction projects in New Jersey. Please do not hesitate to get in touch if you have questions about the presentation or any other legal matters.***
***This presentation is for informational purposes only. You should not construe or consider anything on this website as legal advice, and you should consult with an attorney for advice on your specific legal issues.
The law of Torts trespass negligence and occupiers liability and independent ...Mzumbe University
Negligence is not a single nominate tort. Some interests are protected against negligent interference, others are not. The purpose of the law of torts is to adjust societies' losses and to afford compensation for injuries sustained by one person as a result of the conduct of another. Law of torts must dynamic and responsive to changing society.
Raport audyt wewnętrzny w polskich spółkach edycja 2013Grant Thornton
To już trzecia edycja raportu dotycząca audytu wewnętrznego w polskich spółkach. Cztery lata obserwacji i badań pozwalają ocenić nie tylko obecną sytuację przedsiębiorstw, ale spojrzeć szerzej na panujące tendencje oraz perspektywę zmian.
2016 Year in Review: Recent Midwest Legal Decisions Impacting Real Estate and...Quarles & Brady
In 2016, the Midwest (which we will define as Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, Ohio, and Wisconsin) saw a number of statutory changes and court decisions that reshaped and framed a number of key issues every developer, design professional, owner, lender, contractor, and real estate and construction lawyer must know.
My recent presentation on the Construction Lien Law and Prompt Payment Act, two of the most effective tools for addressing payment issues on construction projects in New Jersey. Please do not hesitate to get in touch if you have questions about the presentation or any other legal matters.***
***This presentation is for informational purposes only. You should not construe or consider anything on this website as legal advice, and you should consult with an attorney for advice on your specific legal issues.
The law of Torts trespass negligence and occupiers liability and independent ...Mzumbe University
Negligence is not a single nominate tort. Some interests are protected against negligent interference, others are not. The purpose of the law of torts is to adjust societies' losses and to afford compensation for injuries sustained by one person as a result of the conduct of another. Law of torts must dynamic and responsive to changing society.
Raport audyt wewnętrzny w polskich spółkach edycja 2013Grant Thornton
To już trzecia edycja raportu dotycząca audytu wewnętrznego w polskich spółkach. Cztery lata obserwacji i badań pozwalają ocenić nie tylko obecną sytuację przedsiębiorstw, ale spojrzeć szerzej na panujące tendencje oraz perspektywę zmian.
Frozen Pensions - UK Residents - ExpatsUnite Limited
We are seeking clients who have standard frozen pensions who may like to look at opportunities for their money to work harder. Suitable for UK residents and expats.
Fully FCA Regulated
Research was conducted in Spanish to US
Hispanic mobile users (smartphone and tablet)
navigating Adsmovil’s network of mobile sites
& apps (all in Spanish)
Ash Samadi is professional real estate expert in the State of Surry Hills, Virginia since 2000. He has experience in Real Estate, Property Marketing – Listings and Buyer's Representation. Currently assisting his team as a director of Samadi Group Management.
Ash Samadi is a passionate and dedicated marketing professional who helps the business of all size to grow through his expertise. He oversees implementation of Development, Construction, and Asset Management of all marketing materials. Develop brand standards, mission, and goals for current and future projects.
Frozen Pensions - UK Residents - ExpatsUnite Limited
We are seeking clients who have standard frozen pensions who may like to look at opportunities for their money to work harder. Suitable for UK residents and expats.
Fully FCA Regulated
Research was conducted in Spanish to US
Hispanic mobile users (smartphone and tablet)
navigating Adsmovil’s network of mobile sites
& apps (all in Spanish)
Ash Samadi is professional real estate expert in the State of Surry Hills, Virginia since 2000. He has experience in Real Estate, Property Marketing – Listings and Buyer's Representation. Currently assisting his team as a director of Samadi Group Management.
Ash Samadi is a passionate and dedicated marketing professional who helps the business of all size to grow through his expertise. He oversees implementation of Development, Construction, and Asset Management of all marketing materials. Develop brand standards, mission, and goals for current and future projects.
The Financial Function of Real Estate Property Management by LL RealtyLL Realty
LL Realty-Property management is the management of household, professional and industrial real estate including residences, separated houses, condominium units and shopping centers. Property management typically involves the managing of property that is owned by another party or entity. The property manager acts on behalf of the owner to protect the value of the property while generating income
Real Estate Market In India : A Profitable Investment by MCHIshashikant
The Maharashtra Chamber of Housing Industry is a representative body of leading developers within the Mumbai Metropolitan Region (MMR) engaged in Housing & Real Estate Developments. MCHI's primary task is to be a common link/ platform, and liaise between members (real estate developers and builders) and local authorities, Central & State Governments. This goes a long way towards making 'housing for all' a reality. MCHI Members create 80 to 90 per cent of houses/ flats in Mumbai and in its vicinity.
Maharashtra Chamber of Housing Industry (MCHI) organises exhibitions where 'smart' home seekers can rely on exhibitors who will treat them not as customers, but as friends. MCHI and the developers who are the exhibitors at such property expos share your aspirations, your dreams and help make these come true.
Looking to rent out or lease your property to earn stable monthly income in India? Before one rent out or lease his/her property to prospective tenant, make sure to go through the following document about ‘Precautions before renting out’ and ‘landlord's rights’
Commercial landlords may encounter situations where a tenant’s rent payment is due and there is no sign of the check. Weeks may pass without any indication of whether rent will be paid.
Commercial Leases, Their Provisions and Pitfalls to Avoid (Series: Real Estat...Financial Poise
Like any other contract, the provisions of a commercial lease are negotiable. Yet, like so many contracts, commercial leases can be confusing to anyone who does not negotiate them for a living. This webinar explains many of the common provisions in a typical commercial lease (e.g. competition clauses, destruction/condemnation provisions, enforcement provisions, escalation clauses, purchase and renewal options, subletting and assignment provisions, use provision- just to name some examples) and discusses what is “market” with respect to them.
To listen to this webinar on-demand, go to: https://www.financialpoise.com/financial-poise-webinars/commercial-leases-their-provisions-and-pitfalls-to-avoid-2020/
REAL ESTATE LAW DUMBED DOWN 2022 - Representing the Commercial TenantFinancial Poise
A commercial tenant views a lease negotiation quite differently than does the landlord. As most leases tend to be drafted by the landlord, a tenant must begin an uphill battle to gain as many concessions as possible. This is an arduous task made easier by a full understanding of what are the most important issues for a tenant in a commercial lease transaction.
How does the financial profile of the tenant enter into the picture? Where can a tenant get hurt the most by hidden costs or unforeseen expenses? Why is “leverage” the most important concept to consider in this process? This webinar will help one understand how the tenant, generally the underdog in lease transactions, can turn the tables and become the most powerful player in the leasing game.
Part of the webinar series: REAL ESTATE LAW DUMBED DOWN 2022
See more at https://www.financialpoise.com/webinars/
Not So Fast! Potential Conflicts of Interests In The Real Estate TransactionDavid Soble
Attorney David Soble provides a brief review of potential conflicts of interest that real estate advisers may have in the real estate transaction. Buyers and sellers will benefit from a quick overview of what to consider.
Not So Fast! Potential Conflicts of Interests In The Real Estate TransactionDavid Soble, JD
Attorney David Soble provides a brief review of potential conflicts of interest that real estate advisers may have in the real estate transaction. Buyers and sellers will benefit from a quick overview of what to consider.
Not So Fast! Potential Conflicts of Interests in a Real Estate TransactionDavid Soble
Real estate advisers often have interests that don't align with their client. Attorney David Soble offers a brief review of potential conflicts that sellers and buyers of real estate should consider.
Similar to High Rent Vacancy: Not Actually Automatic Deregulation (20)
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
BricknBolt Understanding Load-Bearing Walls and Their Structural Support in H...BrickAndBolt
Load-bearing walls are the backbone of any home construction, providing crucial structural support that carries the weight of the house above. For companies like Brick and Bolt Mysore and Bricknbolt Faridabad, understanding and properly implementing these elements are key to constructing safe and durable buildings.
Green Homes, Islamabad Presentation .pdfticktoktips
Green Homes Islamabad offers beautifully designed 5, 8, and 10 Marla homes near the airport and motorway. Enjoy luxury, convenience, and high rental returns in a prime location.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Scanning tenants in NYC requires a thorough and compliant approach to ensure you find reliable renters. For a positive rental experience, consider hiring a property management service. Belgium Management LLC specializes in NYC rental property management and tenant relationship management. We prioritize tenant satisfaction, making us a trusted name in New York property management. Our dedicated team ensures tenants feel valued and supported throughout their lease.
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Urbanrise Paradise on Earth - Unveiling Unprecedented Luxury in Exquisite Vil...JagadishKR1
Immerse yourself in the epitome of luxury living at Urbanrise Paradise on Earth. These opulent 4 BHK villas, nestled off the prestigious Kanakapura Road in Bangalore, redefine elegance and sophistication. With meticulous craftsmanship, breathtaking design, and unparalleled amenities, Urbanrise Paradise on Earth offers a sanctuary where every moment is infused with luxury and serenity. Experience a life of grandeur and indulgence at this exclusive residential enclave.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
High Rent Vacancy: Not Actually Automatic Deregulation
1. Contributors’ Corner Post from
New York
Apartment Law Insider:
High Rent Vacancy:
Not Actually Automatic Deregulation
Vendome Real Estate Media | 2014 | All Rights Reserved
www.apartmentlawinsider.com
2. High Rent Vacancy:
Not Actually Automatic Deregulation
Vendome Real Estate Media | 2014 | All Rights Reserved
www.apartmentlawinsider.com
Guest Contributor:
Adam Leitman Bailey, Esq.
Attorney at Law
Email: alb@alblawfirm.com
Website: www.alblawfirm.com
3. High Rent Vacancy:
Not Actually Automatic Deregulation
Throughout the residential housing industry, there
is dangerous ignorance of the amendments
promulgated this year, amending the Rent
Stabilization Code. All owners should be reading as
much as possible about these amendments.
Business is simply not the same as it was.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
4. One of the massive changes is in the notice that an
owner must give to a new tenant immediately
after deregulating the premises for rent that has
gone above the $2,500 threshold. Prior to 2014, it
was enough for the landlord to furnish the new
tenant with a copy of the annual rent registration
immediately following the deregulation. Under the
old rules, the owner delivered it to the new tenant
the later of 30 days after the registration or 30
days after signing a lease with the new tenant.
That requirement is preserved.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
5. However, the new regulation adds an additional
requirement. Now, in addition to sending that
copy of the registration notice, the landlord must
also send a new notice promulgated by the DHCR
as part of the new regulations. The DHCR has
published this form at
http://www.nyshcr.org/Rent/RentCodeAmendments/HRVD-N-SJ.pdf.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
6. The owner must provide the form to the tenant
within the earlier of 30 days after the
commencement of the tenancy or 30 days after
signing the lease. Prudent landlords have been
giving these forms to tenants right at the lease
signing. If the owner acted wisely, the owner was
already preparing the form while the apartment
was still vacant.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
7. While generally speaking, the regulations are
contrary to ownership interests, the advantage to
the landlord side of the industry that this form
provides is that landlords can download this form
from the DHCR prior to renovating an empty
apartment in order to get a clearer idea of the
kinds of things that will and will not qualify for
Individual Apartment Improvements (IAI) of a kind
that will legally help raise the rent above the
$2,500 threshold..
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
8. The calculations on the form not only list the
specific charges that the DHCR recognizes as
qualified for IAI treatment, but they set forth all of
the other allowances that a landlord would be able
to claim under normal circumstances, such as
those allowances for vacancy, long-term tenancy
by the departing tenant, and minimum increases..
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
9. The form does not, however, as to any of these
increases, offer legal advice as to what
circumstances would allow or disallow any of
these increases, including those for specific
improvements. Only a solid knowledge of the
DHCR and judicial precedents can provide that..
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
10. While the form has room for “other,” that can be
something of a trap. If the landlord includes in “other”
things like painting, refinishing the floors, and
repairing anything, those amounts will not be allowed.
While under previous law those kinds of things would
have passed under the radar, now there is reasonable
assurance that anyone with solid knowledge of the
area reviewing the form will disallow such items. This
is problematic as the form calls for bulk costs of parts
and labor broken out only as to the bathroom, kitchen,
and the apartment as a whole.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
11. It does not call for itemization of the actual costs
per item. However, owners must indeed possess
such itemizations and in far greater detail than
that called for by the form. Not only must the
owner be able to break down the expenditures in
exquisite detail, but the owner must also keep the
bills, invoices, and canceled checks for the same.
This detailed form does not change that and does
not relieve it. Rather, it underscores it.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
12. Like for the predecessor procedures, no one
automatically reviews these forms. The highly
feared “Tenant Protection Unit” (“TPU”) had
already been in existence for some years prior to
the development of these forms. However, the
TPU does not automatically review them; nobody
does. How, when, and against whom the TPU acts
is a closely guarded secret inside the DHCR. It
therefore relies heavily on fear of its waiting to
pounce as an inducement to landlords to play by
the rules
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
13. The extent of the success this campaign of fear is
undocumented, at least publicly. However, it is clear
that the development of the new regulations and the
design of this new form were both intended to make
the TPU’s job easier. Therefore, every time an owner
prepares one of these forms, the owner should
assume that this very form is to be the one that will be
subject to a random audit. According to the DHCR’s
own documentation, it strongly suspects that much
high rent deregulation is fraudulent. It has warned the
industry that it plans to look more deeply into these
matters in the future.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
14. If the TPU, the regular parts of the DHCR (upon
complaint from a tenant), or the courts in virtually
any kind of proceeding find that the
documentation the owner has preserved does not
justify the figures set forth on the form, not only
will the apartment remain under regulation for
this tenant, but the landlord may face crippling
awards for overcharges. The form itself contains
contact information for the DHCR, at least
theoretically encouraging tenants to contact the
DHCR to ask for an audit.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
15. Actual practice has shown that when an
apartment looks like it has been heavily renovated,
tenants are unlikely to effect such contact, but
conversely if the apartment looks shabby, tenants
are indeed likely to contact the DHCR, particularly
if they have had conversations with other tenants
in the building who have successfully challenged
the owner before the DHCR.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
16. Most analysts see these new forms as an
administrative burden, and indeed that is, in large
measure, true. But it is not the whole story. They
also provide a central place an owner can gather
its legitimate data and take those precautions
necessary to survive an audit unscathed. They may
not be exactly an opportunity, but they are at least
a focus for self-protection.
Vendome Real Estate Media | 2014 |
All Rights Reserved | www.apartmentlawinsider.com
High Rent Vacancy:
Not Actually Automatic Deregulation
17. New York Apartment Law Insider
The How-to Resource for Owners, Managers,
and Real Estate Professionals
www.apartmentlawinsider.com
For over 30 years, New York Apartment Law Insider has been the go-to
resource on how to best deal with New York agencies that owners and
managers regularly come in contact with, including:
• the Division of Housing and Community Renewal
• the Department of Buildings
• the Department of Finance
• the Department of Housing Preservation and Development
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